FDIC Insurance Update

Last summer, a law was enacted that raised the standard maximum deposit insurance amount (SMDIA) to $250,000. The law made permanent a previous temporary increase to $250,000 from the former maximum limit of $100,000. The new permanent maximum limit should especially benefit consumers who figure to have more than $ 100,000—such as in multi-year certificates of deposit—in their bank beginning in 2014, when the temporary hike in the maximum limit had been scheduled to … [Read More...]